NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Box, Inc. (“Box” or the “Company”) (NYSE: BOX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Box securities from November 28, 2018 through June 3, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/box. 

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Box was unable to close large deals within the quarter; (2) Box’s revenue would be materially impacted; and (3) defendants’ positive statements about Box’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On June 3, 2019, after-market hours, Box lowered its 2020 projections to a range of $688 million to $692 million, from previous estimate of $700 million to $704 million, attributing the drop to longer sales cycles for its larger deals. Following this news, Box stock dropped during intra-day trading on June 4, 2019.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/box or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Box you have until August 5, 2019 to request that the Court appoint you as lead plaintiff.  A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com